WEMIX Contract Ownership Compromised, 5.22M Tokens Issued and Bridged to Ethereum

Attacker exploited WEMIX contract ownership to mint 5.22M tokens, converting proceeds to USDC.e and bridging funds to Ethereum and BSC. Price drops 16.65% as freezing requests are filed.

Woofun AI reports that the WEMIX platform confirmed a compromise of its contract ownership, leading to the unauthorized issuance of approximately 5,225,525 WEMIX tokens. The attacker swapped these assets for roughly 30,736 WEMIX and 724,198.27 USDC.e, then bridged the stablecoins to Ethereum and BSC networks. The stolen funds were subsequently converted into ETH and USDT, with portions deposited into centralized exchanges. The team is collaborating with external experts to investigate the root cause and has initiated asset freezing applications with relevant entities. Market data indicates a 16.65% decline in WEMIX token price over the past 24 hours.